Oil prices remain volatile globally amid conflict in the Middle East
發佈日期: 2026-03-10 20:47
TVB News
Oil prices remain volatile globally amid the conflict in the Middle East. With petrol costs rising, US President Donald Trump reassured the American public that they will go down if Washington's military operation in the Middle East is successful.
The Group of Seven major industrialised powers have decided against using strategic reserves for now to counter the impact on oil prices from the Iran war.
Brent crude, the international standard, spiked to nearly $120 on Monday before falling back but was still at around $90 a barrel on Tuesday.
That's nearly 24% higher than when the Middle East war started on February 28th.
In the US, the national average petrol price was $3.48 a gallon on Monday, up from $2.90 a month ago, before the war.
With petrol costs rising, US President Donald Trump reassured the American public that they will go down if Washington's military operation in the Middle East is successful. "We're putting an end to all of this threat once and for all, and the result will be lower oil prices, oil and gas prices for American families. We've done that. We've done -We've brought it very low. This was just an excursion into something that had to be done. We're getting very close to finishing that, too."
The oil price surge is already worrying motorists in France, where drivers say rising fuel prices could further strain household budgets already hit by inflation.
On Monday, diesel was selling for around 1.99 euros per litre, while SP95-E10 petrol was listed at 1.86 euros per litre at stations in Paris station.
Still, the Group of Seven major industrialised powers have decided against using strategic reserves for now to counter the impact on oil prices from the Iran war.
Arriving at a gathering of finance ministers of the eurozone, French Finance Minister Roland Lescure said the group is "not there yet," after chairing a meeting of his G7 counterparts.
He did say the G7 is ready to take "necessary and coordinated steps" to stabilise markets.
EU Commissioner for Finance Valdis Dombrovskis said "it is important to work to de-escalate the conflict as soon as possible, the sooner it happens the more contained the impact on the global economy will be."
In the Chinese Mainland, motorists queued outside petrol stations in Shanghai and several other major cities.
Elsewhere in Asia, drivers in the Philippines also rushed to get petrol in view of the expected large pump price hike starting Tuesday. Prices are expected to rise by 17 to 24 pesos or $0.30 to $0.40 per litre.
Philippine President Ferdinand Marcos Jr. said last week that he plans to discuss whether he could exercise emergency authority to reduce excise taxes on petroleum products if prices reach or exceed $80 per barrel.
